Come on stumpy everyone on this forum knows KBC are trying to roll VENs directors why would they in any way help out MEL to fund Odin-2 its not in their best interests.
Not sure how you get they have enough for their share when VEN mention it will cost $9M for their 50% share so MELs 25% share will be $4.5M ....
MEL had $800k cash and $1.5M of loan to draw - we know the JV have spent money since this time trying to improve vali so cash will be less.
We can now assume that production is no longer cash flow positive at 2.4mmcfd Odin & 1.5mmcfd Vali.
I cannot see how MEL cannot raise a heavily dilutionary cap raise in light of the above
MEL Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
